The group’s turnover generated by footwear grew by 33.8 percent to an indicated €61.8 million during the 2nd quarter ended June 30, marking a big turnaround for Tod’s. The group’s footwear sales under its various brands had been mostly flat for previous quarters, even falling by 2.8 percent during the first quarter of this year.
For the 1st half of this year, footwear sales were thus up by 11.4 percent to €132.2 million, or by 13.4 percent in local currencies. They represented 68 percent of consolidated sales for the group, contributing to a 12.1 percent sales increase in euros to €194.5 million for the full 6-month period. Sales in euros were up 21.8 percent for leathergoods and flat for apparel, which is sold mostly under the Fay brand.
For the second quarter, the company’s overall sales of €89.6 million increased from €69.6 million in the year-ago period. On a currency-neutral basis, Fay’s sales decreased to €8 million from €8.5 million, whereas sales under Tod’s brand increased to €57.0 million from €43.7 million and those under the Hogan brand came in at €21.2 million, up from €15.6 million. Other products generated sales of €2.7 million, up from €1.2 million. Hogan’s sales represented 25.8 percent of the group’s turnover during the first 6 months and the increase in the 2nd quarter confirmed a positive momentum already shown in the first one.
Viewed geographically, Italy accounted for €39.3 million of the group’s sales in the 2nd quarter, up from €32.5 million. It remains the group’s main market, representing 45.8 percent of consolidated sales over the first 6 months. The rest of Europe brought in €23.7 million, up from €19.4 million, while North America generated €13.2 million, up slightly from €12.8 million in spite of the weakened dollar. Asia, which now represents 12.5 percent of sales, was the fastest-growing market with sales up to €12.7 million from €4.9 million and strong potential for further growth..
The continuously growing network of directly operated stores contributed a turnover of €61.9 million in the 2nd quarter as compared to €48.3 million the previous year. Aside from new store openings – three of which occurred in the quarter – the group’s DOS network recorded a sales increase of 10 percent in the first half of this year on a same-store basis. The wholesale business with franchised stores and independent retailers declined by only 1.4 percent to €90.8 million during the 6-month period but was up sharply in the 2nd quarter, reaching an indicated €27 million.